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Side-by-side financial comparison of TIC Solutions, Inc. (TIC) and ZILLOW GROUP, INC. (ZG). Click either name above to swap in a different company.
ZILLOW GROUP, INC. is the larger business by last-quarter revenue ($654.0M vs $508.3M, roughly 1.3× TIC Solutions, Inc.). ZILLOW GROUP, INC. runs the higher net margin — 0.5% vs -9.3%, a 9.7% gap on every dollar of revenue. ZILLOW GROUP, INC. produced more free cash flow last quarter ($44.0M vs $37.1M).
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 by co-executive chairmen Rich Barton and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current technology leadership advisor.
TIC vs ZG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $508.3M | $654.0M |
| Net Profit | $-47.2M | $3.0M |
| Gross Margin | 35.2% | 72.8% |
| Operating Margin | -3.8% | -1.7% |
| Net Margin | -9.3% | 0.5% |
| Revenue YoY | — | 18.1% |
| Net Profit YoY | — | 105.8% |
| EPS (diluted) | — | $0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $508.3M | $654.0M | ||
| Q3 25 | $473.9M | $676.0M | ||
| Q2 25 | $313.9M | $655.0M | ||
| Q1 25 | $234.2M | $598.0M | ||
| Q4 24 | — | $554.0M | ||
| Q3 24 | — | $581.0M | ||
| Q2 24 | — | $572.0M | ||
| Q1 24 | — | $529.0M |
| Q4 25 | $-47.2M | $3.0M | ||
| Q3 25 | $-13.9M | $10.0M | ||
| Q2 25 | $-233.0K | $2.0M | ||
| Q1 25 | $-25.8M | $8.0M | ||
| Q4 24 | — | $-52.0M | ||
| Q3 24 | — | $-20.0M | ||
| Q2 24 | — | $-17.0M | ||
| Q1 24 | — | $-23.0M |
| Q4 25 | 35.2% | 72.8% | ||
| Q3 25 | 32.2% | 72.6% | ||
| Q2 25 | 23.6% | 74.7% | ||
| Q1 25 | 18.6% | 76.8% | ||
| Q4 24 | — | 75.8% | ||
| Q3 24 | — | 75.9% | ||
| Q2 24 | — | 77.3% | ||
| Q1 24 | — | 76.7% |
| Q4 25 | -3.8% | -1.7% | ||
| Q3 25 | -1.4% | -0.4% | ||
| Q2 25 | 5.8% | -1.7% | ||
| Q1 25 | -4.0% | -1.5% | ||
| Q4 24 | — | -12.5% | ||
| Q3 24 | — | -7.7% | ||
| Q2 24 | — | -6.6% | ||
| Q1 24 | — | -8.5% |
| Q4 25 | -9.3% | 0.5% | ||
| Q3 25 | -2.9% | 1.5% | ||
| Q2 25 | -0.1% | 0.3% | ||
| Q1 25 | -11.0% | 1.3% | ||
| Q4 24 | — | -9.4% | ||
| Q3 24 | — | -3.4% | ||
| Q2 24 | — | -3.0% | ||
| Q1 24 | — | -4.3% |
| Q4 25 | — | $0.01 | ||
| Q3 25 | $-0.08 | $0.04 | ||
| Q2 25 | — | $0.01 | ||
| Q1 25 | — | $0.03 | ||
| Q4 24 | — | $-0.23 | ||
| Q3 24 | — | $-0.08 | ||
| Q2 24 | — | $-0.07 | ||
| Q1 24 | — | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $439.5M | $768.0M |
| Total DebtLower is stronger | $1.6B | — |
| Stockholders' EquityBook value | $2.2B | $4.9B |
| Total Assets | $4.4B | $5.7B |
| Debt / EquityLower = less leverage | 0.74× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $439.5M | $768.0M | ||
| Q3 25 | $164.4M | $874.0M | ||
| Q2 25 | $130.1M | $587.0M | ||
| Q1 25 | $155.7M | $914.0M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $751.3M | — | ||
| Q1 25 | $752.4M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.2B | $4.9B | ||
| Q3 25 | $2.0B | $5.0B | ||
| Q2 25 | $1.2B | $4.7B | ||
| Q1 25 | $1.1B | $4.8B | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | — | $4.7B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | — | $4.7B |
| Q4 25 | $4.4B | $5.7B | ||
| Q3 25 | $4.2B | $5.7B | ||
| Q2 25 | $2.2B | $5.4B | ||
| Q1 25 | $2.2B | $5.7B | ||
| Q4 24 | — | $5.8B | ||
| Q3 24 | — | $6.2B | ||
| Q2 24 | — | $6.6B | ||
| Q1 24 | — | $6.8B |
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.83× | — | ||
| Q2 25 | 0.64× | — | ||
| Q1 25 | 0.67× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $49.7M | $72.0M |
| Free Cash FlowOCF − Capex | $37.1M | $44.0M |
| FCF MarginFCF / Revenue | 7.3% | 6.7% |
| Capex IntensityCapex / Revenue | 2.5% | 4.3% |
| Cash ConversionOCF / Net Profit | — | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | $61.3M | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.7M | $72.0M | ||
| Q3 25 | $19.0M | $105.0M | ||
| Q2 25 | $-6.5M | $87.0M | ||
| Q1 25 | $32.8M | $104.0M | ||
| Q4 24 | — | $122.0M | ||
| Q3 24 | — | $171.0M | ||
| Q2 24 | — | $55.0M | ||
| Q1 24 | — | $80.0M |
| Q4 25 | $37.1M | $44.0M | ||
| Q3 25 | $10.3M | $73.0M | ||
| Q2 25 | $-14.5M | $50.0M | ||
| Q1 25 | $28.3M | $68.0M | ||
| Q4 24 | — | $88.0M | ||
| Q3 24 | — | $138.0M | ||
| Q2 24 | — | $18.0M | ||
| Q1 24 | — | $41.0M |
| Q4 25 | 7.3% | 6.7% | ||
| Q3 25 | 2.2% | 10.8% | ||
| Q2 25 | -4.6% | 7.6% | ||
| Q1 25 | 12.1% | 11.4% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 23.8% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 7.8% |
| Q4 25 | 2.5% | 4.3% | ||
| Q3 25 | 1.8% | 4.7% | ||
| Q2 25 | 2.6% | 5.6% | ||
| Q1 25 | 1.9% | 6.0% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | 7.4% |
| Q4 25 | — | 24.00× | ||
| Q3 25 | — | 10.50× | ||
| Q2 25 | — | 43.50× | ||
| Q1 25 | — | 13.00× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TIC
| Consulting Engineering Segment | $300.1M | 59% |
| Geospatial Segment | $131.3M | 26% |
| Fixed Unit Price Contracts | $54.3M | 11% |
| Other | $22.6M | 4% |
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
